Munich Reinsurance Co Stock Corp in Munich cut its position in shares of Solventum Corporation (NYSE:SOLV – Free Report) by 73.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,890 shares of the company’s stock after selling 89,532 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Solventum were worth $2,460,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Independent Franchise Partners LLP boosted its holdings in shares of Solventum by 19.0% during the 4th quarter. Independent Franchise Partners LLP now owns 15,355,691 shares of the company’s stock valued at $1,216,785,000 after buying an additional 2,456,451 shares in the last quarter. State Street Corp increased its stake in shares of Solventum by 2.0% in the 4th quarter. State Street Corp now owns 6,344,761 shares of the company’s stock worth $502,759,000 after acquiring an additional 124,490 shares in the last quarter. Boston Partners lifted its position in Solventum by 26.1% during the 3rd quarter. Boston Partners now owns 4,630,300 shares of the company’s stock valued at $338,006,000 after acquiring an additional 959,543 shares during the period. Geode Capital Management LLC lifted its position in Solventum by 20.0% during the 4th quarter. Geode Capital Management LLC now owns 4,588,728 shares of the company’s stock valued at $362,375,000 after acquiring an additional 763,308 shares during the period. Finally, Invesco Ltd. boosted its stake in Solventum by 3.4% during the fourth quarter. Invesco Ltd. now owns 2,930,010 shares of the company’s stock worth $232,174,000 after acquiring an additional 96,236 shares in the last quarter.
Solventum Stock Down 0.8%
Shares of Solventum stock opened at $91.70 on Friday. The company has a 50-day simple moving average of $84.00 and a two-hundred day simple moving average of $76.01. The stock has a market capitalization of $15.61 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.44 and a beta of 0.61. Solventum Corporation has a 52-week low of $62.38 and a 52-week high of $94.16. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 1.02.
Analyst Ratings Changes
A number of equities research analysts have weighed in on SOLV shares. Wedbush upped their price objective on shares of Solventum from $94.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Piper Sandler boosted their price target on Solventum from $92.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Wall Street Zen downgraded Solventum from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. UBS Group raised their price objective on Solventum from $95.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, KeyCorp lifted their price objective on Solventum from $93.00 to $102.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Solventum presently has a consensus rating of “Moderate Buy” and an average target price of $91.64.
Get Our Latest Analysis on Solventum
Solventum Company Profile
Solventum Corporation, a healthcare company, engages in the developing, manufacturing, and commercializing a portfolio of solutions to address critical customer and patient needs. It operates through four segments: Medsurg, Dental Solutions, Health Information Systems, and Purification and Filtration. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes.
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